SVAL vs. IAU

Last updated Jun 4, 2026

SVAL (iShares US Small Cap Value Factor ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - SVAL is a Small Cap Value Equities fund tracking the Russell 2000 Focused Value Select Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, SVAL returned 6.47%/yr vs 18.32%/yr for IAU. At a 0.10 correlation, their price movements are largely independent. SVAL charges 0.20%/yr vs 0.25%/yr for IAU.

Performance

SVAL vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares US Small Cap Value Factor ETF (SVAL) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVAL achieves a 15.99% return, which is significantly higher than IAU's 2.98% return.

SVAL

• 1D: -1.51%
• 1M: 2.08%
• YTD: 15.99%
• 6M: 15.39%
• 1Y: 34.88%
• 3Y*: 17.30%
• 5Y*: 6.47%
• 10Y*: —

IAU

• 1D: -0.98%
• 1M: -1.62%
• YTD: 2.98%
• 6M: 5.50%
• 1Y: 32.20%
• 3Y*: 31.29%
• 5Y*: 18.32%
• 10Y*: 13.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SVAL vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SVAL iShares US Small Cap Value Factor ETF	15.99%	8.23%	7.54%	12.27%	-10.15%	33.18%	27.93%
IAU iShares Gold Trust	2.98%	63.95%	26.85%	12.84%	-0.63%	-4.00%	1.74%

Correlation

The correlation between SVAL and IAU is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 30, 2020	0.10

SVAL vs. IAU - Sectors Allocation Comparison

Sectors	SVAL	IAU
Financial Services	23.7%	-
Industrials	15.8%	-
Consumer Cyclical	13.7%	-
Technology	10.7%	-
Healthcare	10.3%	-
Energy	7.7%	-
Basic Materials	6.1%	-
Consumer Defensive	4.1%	-
Utilities	3.3%	-
Real Estate	2.7%	100.0%
Communication Services	1.8%	-

Return for Risk

SVAL vs. IAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SVAL

SVAL Risk / Return Rank: 64
SVAL Sharpe Ratio Rank: 57
SVAL Sortino Ratio Rank: 60
SVAL Omega Ratio Rank: 56
SVAL Calmar Ratio Rank: 77
SVAL Martin Ratio Rank: 67

IAU

IAU Risk / Return Rank: 32
IAU Sharpe Ratio Rank: 33
IAU Sortino Ratio Rank: 29
IAU Omega Ratio Rank: 36
IAU Calmar Ratio Rank: 33
IAU Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SVAL vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Small Cap Value Factor ETF (SVAL) and iShares Gold Trust (IAU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SVAL	IAU	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.23	+0.74
Sortino ratio: Return per unit of downside risk	2.88	1.62	+1.26
Omega ratio: Gain probability vs. loss probability	1.35	1.24	+0.10
Calmar ratio: Return relative to maximum drawdown	3.92	1.69	+2.23
Martin ratio: Return relative to average drawdown	12.29	4.19	+8.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVAL vs. IAU - Sharpe Ratio Comparison

The current SVAL Sharpe Ratio is 1.97, which is higher than the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of SVAL and IAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SVAL	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	1.23	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	1.03	-0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.62	+0.08

Drawdowns

SVAL vs. IAU - Drawdown Comparison

The maximum SVAL drawdown since its inception was -27.44%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for SVAL and IAU.

Drawdown Indicators

	SVAL	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-45.14%	+17.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-19.18%	+10.24%
Max Drawdown (3Y) Largest decline over 3 years	-27.44%	-19.18%	-8.26%
Max Drawdown (5Y) Largest decline over 5 years	-27.44%	-20.93%	-6.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-21.82%	—
Current Drawdown Current decline from peak	-1.51%	-17.70%	+16.19%
Average Drawdown Average peak-to-trough decline	-8.51%	-15.96%	+7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	7.71%	-4.86%

Volatility

SVAL vs. IAU - Volatility Comparison

The current volatility for iShares US Small Cap Value Factor ETF (SVAL) is 4.31%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that SVAL experiences smaller price fluctuations and is considered to be less risky than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVAL	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	5.50%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	23.02%	-11.40%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	26.42%	-8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.33%	17.95%	+4.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.27%	15.90%	+7.37%

SVAL vs. IAU - Expense Ratio Comparison

SVAL has a 0.20% expense ratio, which is lower than IAU's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SVAL vs. IAU - Dividend Comparison

SVAL's dividend yield for the trailing twelve months is around 2.27%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SVAL iShares US Small Cap Value Factor ETF	2.27%	2.33%	1.82%	2.25%	2.09%	2.33%	0.28%

Frequently Asked Questions

Can I hold both SVAL and IAU in my portfolio?

SVAL and IAU have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVAL or IAU?

IAU has higher volatility (5.50%) compared to SVAL (4.31%). In terms of maximum drawdown, SVAL dropped -27.44% vs IAU's -45.14%.

Which ETF is better, SVAL or IAU?

On 5-year performance, IAU leads with 18.32% vs 6.47% for SVAL. On fees, SVAL is cheaper at 0.20% per year. On volatility, SVAL has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVAL or IAU?

Over the 5-year period, IAU has performed better with a 18.32% return vs 6.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVAL or IAU?

SVAL is cheaper with a 0.20% expense ratio, compared with 0.25% for IAU.

Which ETF pays a higher dividend yield, SVAL or IAU?

SVAL has the higher dividend yield at 2.27%, compared with 0.00% for IAU.

What is the main difference between SVAL and IAU?

SVAL is categorized as Small Cap Value Equities, while IAU is Gold. SVAL tracks Russell 2000 Focused Value Select Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.20% for SVAL and 0.25% for IAU.

Which has better risk-adjusted returns?

SVAL currently has the higher Sharpe Ratio (1.97 vs 1.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.